Cross Border Resources, Inc. (XBOR)

[boomer23]

You're right. It is easily enough serviced and banks like Texas Capital don't get into too much leverage these days to not have adequate protection. There have been other lines offered to the company of late but no commitment to pursue. The current line is simply the existing line that has been in place for years. The 7.5% debentures that were called in back in March removed extremely restrictive covenants that have been in place since 2005. This opened the door for the company to pursue other lines. I doubt they take on more debt right now given the largest investor continues to acquire shares and given the pockets they carry behind them. There is only 16mm shares outstanding on XBOR so they can easily handle a debt or equity raise especially given the pending off sets to newer successful wells.